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on the corporate side from 46% down to 34%. that was 1986. it was done in a bipartisan way. with ronald reagan and tip o'neill. and the idea at that time was to take our tax rate down to the point where it was competitive, meaning it was below the average of our global competitors. in the intervening 2 1/2 decad decades, guess what's happened? every single country of the developed world, the so-called oecd countries, our global trading competitors, every single one of them have gone in and reform theied their tax cod. they've lowered their rates but they've also made their code more competitive. every single country except us. so america's been on the sidelines while other countries have moved quickly to improve their tax code. why? because they want investment, they want the jobs. and what's happened is, sure enough, they're more competitive, capital is now flowing outside of this country, we're losing headquarters, we're in a situation where if there's a foreign acquisition to be made, those companies in foreign countries have an advantage because they have a more competitive tax code. our t
. when ronald reagan came in and we didn't have any money, we watched every dime we spent. former deputy attorney general of the united states, larry thompson of atlanta, and i was united states attorney in alabama, we were such dyed in the wool reaganauts, when we went to a conference, we roomed together, separate beds. we thought it was cheaper. it would save money for the taxpayers. this kind of mentality needs to get back into what we are doing. i would just say that it's time for us to confront it. the vision of the members of this side and i think a lot of members of that side is not that far apart. i want to be clear about a couple of things. this budget needs to be put on a path to balance. it can be done without cutting spending in any dramatic way. all you have to do is reduce the rate of growth in spending. the budget will balance in ten years. we need to do that. we need to plan to do that. as i explained before, the debt is already pulling down economic growth in america. it's pulling down the growth that we have. the debt has reached such a level, 104% of g.d.p., our gross
since ronald reagan but our current president today, it is endorsed by republicans and democrats in this body. the person that knows the knows about it is miss jeanne shaheen, a former governor of new hampshire and a united states senator. mrs. shaheen: thank you, mr. president. i was governor for three budgets and we were able to balance them every other year, every cycle, because biennial budgeting gives us an opportunity to prioritize scarce resources and provide more oversight to the budgeting process. this is an idea whose time has come. we need this reform, and i urge my colleagues to support it. mr. isakson: i ask for the yeas and nays. the presiding officer: is there a sufficient second? mrs. murray: is there a senator who wishes to speak in opposition? seeing none, i will yield back our time. the presiding officer: is there a sufficient second? there appears to be. the clerk will call the roll. vote: the presiding officer: are there any senators wishing to vote or to change their vote? if not, the yeas are 68, the nays are 31. the amendment is agreed to. mrs. murray: mov
Search Results 0 to 2 of about 3